Name of the Project
Sal de Vida lithium/potash project.

Location
(The project is located on the Salar del Hombre Muerto, in north-west Argentina.

Project Owner/s
Galaxy Resources.

Project Description
Sal de Vida has a Joint Ore Reserves Committee-compliant ore reserve estimate of 1.14-million tonnes of retrievable lithium carbonate equivalent and 4.2-million tonnes of lithium carbonate equivalent in mineral resources, supporting a long-life, low-cost operation.

Development will comprise three stages.

Stage 1 will entail a brine evaporation and processing operation at Salar del Hombre Muerto, producing technical-grade lithium carbonate.

Stage 2 will be a duplicate of Stage 1, while Stage 3 will involve the construction of a downstream purification facility at a separate, off-site location to upgrade the primary grade product to battery-grade lithium carbonate.

Until mid-2019, Galaxy envisaged development as a single-stage project by employing a conventional evaporation flowsheet to produce battery-grade lithium carbonate at site and potash as a by-product.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Nots stated.

Capital Expenditure
$161-million.

Planned Start/End Date
Stage 1 is targeting production in 2022.

Latest Developments
Galaxy Resources has completed the retail component of its entitlement offer, raising A$38-million as part of the company’s larger A$161-million capital raise.

Galaxy announced plans in November 2020 to raise the funds to finance the Stage 1 development of its Sal de Vida project, in Argentina.

The retail entitlement offer, which had been conducted on the basis of 1-for-14 at a price of A$1.70 each, had closed on December 10, raising an estimated A$38-million.

Combined with the A$123-million raised under the institutional component of the entitlement offer and a concurrent placement, total proceeds of the capital raise are about A$161-million.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Galaxy Resources, tel +61 8 9215 1700, fax +61 8 9215 1799, or email reception@galaxylithium.com or info@galaxylithium.com.